Recent performance For the preceding quarter, gross margin was 89.5%, 660 basis points worse than the prior-year quarter. Operating margin was -2.4%, much better than the prior-year quarter. Net margin was -9.2%, much better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $512.2 million. The average EPS estimate is $0.23.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Midstates Petroleum is outperform, with an average price target of $12.11.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.